Current Job Openings in Finance

As the economy improves, many firms are beginning to hire, such as at the global investment banks, Goldman Sachs, Citigroup and Deutsche Bank. Another place to find an investment banking job is at asset management companies and private equity firms. Seek out summer internships through your school, to gain critical experience and recommendations prior to graduation. Successfully landing a job will depend on implementing a financial job search strategy. There are too many candidates competing against you to think you can just send out resumes. Companies are in need of strategic candidates that can fill a particular job position. In order to give a hiring manager a positive impression, learn in-depth financial information about their firm before seeking a formal job interview.

Set up an introductory meeting to ask a handful of questions about the firm's history, and current business opportunities. A hand written thank-you note is virtually required. Stay in touch with your interviewer. They are watching for those candidates who are trying harder than others, and you are purposefully trying to differentiate yourself. A good impression in the early stages, along with a follow-up, can give you a solid edge in the financial job search process. Do not underestimate the power of your school's alumni network. Financial hiring managers are using targeted job sites because the generic job boards produce too many unqualified applicants. Although the large job boards like Monster.com may have millions of jobs available, your interest is in a very small subset of those open positions. Since it's going to take a lot of your time, and effort, to land a job in finance, new college graduates should concentrate on interviewing for positions in line with their long-term goals.

There are several credentials that finance professionals must possess to begin working. If you are planning to break into finance as a broker, you'll need a Series 7 license, as well as a Series 63 license. These will allow you to sell stocks, bonds, and other securities in those states that your firm is registered in. For those that wish to work as equity traders, this field requires a Series 55 license.

Liquidity Ratios: Acid Test

Liquidity ratios are used to help assess whether a business has sufficient cash or equivalent current assets
to be able to pay its debts as they fall due within the year. A business that finds that it does not have the
cash to settle its debts becomes insolvent. The formula for the acid test ratio is Current Assets minus
Inventory, divided by Liabilities. The reason is that not all assets can liquidated into cash at fair market
value. Notably, raw materials and large inventories of product must first be sold, and then cash collected
from debtor accounts.

The Acid Test Ratio, sometimes also called the Quick Ratio, adjusts the Current Ratio to eliminate those
current assets that are not already in cash form. An acid test ratio of over 1.0 is good news; the business is
well-placed to be able to pay its debts even if it cannot turn inventories into cash. Care has to be taken
when interpreting the acid test ratio. The value of inventory that a business needs to hold will vary
considerably. For example, you wouldn’t expect a law firm to carry inventory, but a major supermarket
carries a large dollar value of inventory at any given time.

Investing Basics

Many analytic jobs involve developing views, writing reports, and disseminating them to the public or clients. 'Quants,'
on the other hand, work behind the scenes, developing mathematical models to assist analysts in their predictions. Computer
programmers and math majors may find a rewarding career in finance. A quant can earn tremendous sums of money, if a talented
individual is able to build software or mathematical models that outperform the market on a regular basis. These jobs consist
of looking for patterns in data, watching for market trends based on underlying economic or psychological factors, then
forecasting market movements.

Credit Card Interest, Credit Scores

Student credit cards are easy to obtain via an online application, but monthly payments can be difficult to manage. As with most
credit cards, the interest rates may be high, and there may be an annual fee to pay. Beyond this, however, be aware that the credit
card company can raise your interest rates if you are late on even one payment. Student credit cards should be used as a last resort if
you need to buy a computer for school, and have a steady job, or other regular income to pay off the credit card in full within a few
months. You can get a free credit report online, or check your credit score at one of the 'Big 3' Credit Bureaus, Transunion, Experian, or Equifax.

Build your credit with a secured credit card for students. There are no application fees or activation fees, and the credit line varies,
from $300-$4,900. Your maximum credit line is based on your income as well as the amount of your security deposit. Given that
you make the minimum payment monthly, your credit history and credit card account information will be shared with all three major
credit bureaus. After 12 months, your security deposit may be returned if your payment history has been excellent. Apply now for a
secured credit card from Bank of America, or an American Express credit
card.

You can improve your credit score dramatically by securing credit cards, and then simply not using your credit line. Your credit score
is a ratio of your total available credit to the amount of debt that you carry. For example, if you get more credit cards, and don't use
the credit, your available credit has increased, but your debt load has remained constant. Banks and credit unions naturally offer the
easiest credit to the borrowers who need it least, and have strict employment and earnings requirements. You may also be asked to
list your assets, or seek a co-signer, if you don't have sufficient income to qualify for a credit card on your own.

When applying for a credit card like the Wells Fargo
Platinum Visa credit card, note that many cards promote no annual fee for the first year, but then hit you with a high annual fee
in following years. You can also incur fees by taking out a cash advance, which is usually charged back at a higher interest rate, if not
paid in full within the same billing period. You are told that you can get cash back on certain purchases, but no-one mentions that
the interest charges over time may be higher in fact, than your savings. In addition, there are hidden transaction fees, and charges for
using your credit card overseas. Using your credit card to buy things you don't really need, or to get cash advances, is just not smart
financial planning. There are better ways to get the extra money that you need.

Financial Job Descriptions

The firm that hires you may sponsor fees for required licenses, but exams are difficult and will require preparation. Analysts are required to pass the Series 16 supervisory analyst exam, which permits distribution of analytical reports. Further, analysts may take the Chartered Financial Analyst (CFA) exam.

Hedge funds are well-known for taking on greater risk, focusing on very high returns. Hedge funds have few
restrictions on how they can invest, so your job security rests squarely on your ability to earn above-market returns.
In order to prove yourself in this highly-competitive field, expect very long hours, and high stress. Large firms
manage a variety of asset classes, while boutique firms focus on a particular market niche, such as small-cap stocks
or high-yield bonds. While hedge funds and money managers buy and sell securities, private equity firms purchase
entire corporations, seeking to either resell the companies outright, or take them public. Your job duties may include
analyzing potential purchases, negotiating deals, raising financing, or working directly on portfolio profitability.

Real estate firms attempt to either develop new real estate projects or purchase existing projects. Finance jobs at a
real estate company include working as a financing specialist, analyst or deal manager. Institutional investment
managers invest money for a pension fund, sovereign wealth fund, or an insurance company, in an effort to
generate returns over time. Your role may be that of an investment analyst, portfolio manager or currency trader.

Banks are at the heart of the finance industry, financing trade or infrastructure deals, and managing the money of
wealthy people. The range of careers in banking is enormous, and often includes beginning as a teller, or
accountancy, then working up into branch management or corporate positions. Work is available in specialist areas
such as insurance, lending, foreign currency, investment management, trade finance, and financial control.
Investment banks give strategic advice to corporations, provide corporate financing, and trade in stocks, bonds, and
other securities, often using automated, high-speed trading software. One of the primary functions of investment banks
is raising capital. This function falls upon the underwriting department. Bankers in the underwriting department specialize
either in debt underwriting or equity. Private equity jobs can be found within an investment bank but most are found at
specialist firms. Some of the largest private equity firms include Blackstone, KKR and TPG.

Finance Program Rankings - Undergraduate

Beyond preparing you for graduate programs in business, studying finance can open doors for
you in the fields of investment banking, securities analysis, and business start-ups.

On our pages, you can find career training and listings of engineering jobs, updated hourly. This website is not affiliated with any educational institution, and all trademarks are exclusive property of the respective owners. College Inspector is the work of a group of Thai students in Bangkok, using info from the US Department of Education, Postsecondary Education Data System (IPEDS). If any stats are incorrect, please contact us with the right data.